So things are coming together for Egypt, economy is recovering, weather is getting warmer and people are eating away Hershey™ and Lindt™ chocolates on Valentine’s Day — everything looks better with fuzzy teddy bears holding red hearts but here’s excerpt from National Geographic’s article on the mechanics of this day’s traditions:
Today’s relatively tame Valentine’s Day celebration is big business—the 2011 holiday is expected to generate $15.7 billion in
retail sales in the United States. That’s up from last year’s $14.1 billion, according to an annual survey by the U.S. National Retail Federation (NRF). “Having surpassed expectations during the holiday season, it seems consumers are not done spending on gifts, which bodes well for the economy,” federation president Matthew Shay said in a statement.
Among those who are celebrating in 2011, the average U.S. consumer is expected to spend $116.21 on Valentine’s Day gifts, meals, and entertainment, according to the survey—about $13 more per person than in 2010.
Spouses and significant others are apparently feeling flush, and plan to invest $68.98 on Valentine’s Day gifts for their significant other—up from last year’s $63.34 average. Even pets are expected to see richer treats in 2011, with average planned spending on animal gifts up $1.77 to $5.04.
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